Robbing Blind - How Come Hell Or High Water, Financial Crimes In India Have Been On The Rise And How The Watchdogs Are Attempting To Curb The Evil
Pratik Banerjee, SRM University, Delhi-NCR, Sonepat
ABSTRACT
The banking industry has been a critical pillar of the Indian economy, built on the principles of transparency and integrity and supported by a strong regulatory framework and vigilant oversight. However, as the banking sector has grown and expanded at a rapid pace, becoming an integral part of the economy and financial market, instances of financial crimes have also increased.
In response to this challenge, the financial watchdog and the government has implemented a series of steps to combat financial crime and strengthen the integrity of the banking system. Despite strict restrictions and formidable watchdogs, the frequency of such crimes has been increasing.
This paper provides a comprehensive examination of India's continuing banking problem, shedding light on the underlying elements contributing to the surge in financial crimes, their negative economic repercussions, and the proactive actions implemented by the government to address the issue. We can obtain a better grasp of the banking industry's issues and the measures required to protect stakeholders' interests by delving deeper into this complex subject.
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